Today, May 14, the State Tax Service hosted a joint webinar with representatives of the STS, Deloitte experts and businesses on topical aspects of transfer pricing. The event discussed the introduction of the economic connection criterion, updates to the lists of jurisdictions and organizational and legal forms, reporting by international groups of companies, and current case law. This was reported by the press service of the STS, reports UNN.
Details
As reported by the STS, today a joint webinar was held on the topic "Tax Tango: TP and CFC" with the participation of representatives of the STS, Deloitte experts and business, during which topical aspects of transfer pricing were discussed.
The event discussed key legislative changes that came into force on January 1, 2025, in particular:
- introduction of the economic connection criterion;
- updating the lists of jurisdictions and organizational and legal forms;
- submission of reports by international groups of companies;
- current case law.
The State Tax Service understands that business in Ukraine strives for predictability, clear rules and equal conditions for all. That is why the STS is actively developing modern analytical approaches, introducing digital solutions to improve the quality of analysis, identify risks and at the same time minimize interference where business operates in good faith
According to Karnaukh, among the analytical tools currently used by the STS:
- Big Data TP to identify transfer pricing risks;
- analysis of financial and behavioral indicators;
- comparison of functions, assets and profitability of taxpayers;
- international exchange of information to verify the economic capacity of non-resident counterparties.
Our focus is shifting from simply checking numbers to a deep understanding of the essence of operations, business models and the economic value that companies create. We understand that only cooperation, open discussion and mutual respect will help us achieve synergy within the framework of public-private partnership
The STS also informed that the participants of the event got acquainted with the mechanisms by which the STS analyzes controlled transactions, identifies risks and uses requests to international partners.
Addition
Deloitte is one of the world's largest professional services firms in the areas of:
- audit,
- consulting,
- taxation,
- risk management,
- financial consulting.
Deloitte is one of the "big four" accounting firms along with PwC, EY and KPMG.
Let us remind you
The State Tax Service became the first among state bodies to join the "Pulse" project, designed to collect feedback from businesses on interaction with state bodies. The tax office has integrated the Electronic Cabinet with the online platform.